Homework Help: Finance

Posted by Julie on Monday, April 20, 2009 at 6:11pm.

Dean and Jerry formed a partnership, agreeing to share profits and losses equally. Dean will receive a guaranteed payment of $48,000 per year. The partnership has $240,000 net income from operations for the year, before considering the guaranteed payment. What is Dean's share of the partnership ordinary income and fuaranteed payment?

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